Fhemmmy:

I so much agree with you on that and spending such Total of 2,136,000 bulk cash on the other piece of land for anything he wants [b]would take the other to maybe lintel and almost decking . . . Thanks for this great analysis, Sir[/b]

spyder880: @ Whitehorse, Fhemmmy, the cost of each of the lands is N2m, not N1m. That is why I am using a PE ratio of 8x as my calculation.

The beauty of this investment is not the property or the noise in the yard, but the future value of this same land in that location 8 years later. You can choose to;

1. Continue collecting free money as rent every month, since you have got all your initial investment back.

2. Renovate the house, remodel it and rent it as something else.

3. Demolish the whole house and use same for another project entirely, like a block of luxury flats in the now bustling neighborhood.

4. Sell the land as a fresh land after demolishion and take your capital somewhere else.

So much possibilities!

Whitehorse: @Getreal,

Thanks for the info. I was in Enugu two years ago, but did not visit Nike area. I must confess Enugu of now is very different from the Enugu of the 90's... What is the rent like for a two bed in flat in Nike ? Also, any idea what students pay for 1 man rooms these days?

@ Spyder,
How much do you intend to rent this your rooms for? Or if you do not want to tell us now, please what is the going rate in Nike/Enugu?

If the figures add up, Enugu should be a good place to invest, property wise, no need putting all ones eggs in Lagos.

MostHigh: oga spyder,
Reporting to class,not to sound ignorant o, why u use 4 courses of block for foundation? is it to make it stronger

kostadinis:

It was Deepak Chopra who once said, ""Everyone has a purpose in life... a unique gift or special talent to give to others. And when we blend this unique talent with service to others, we experience the ecstasy and exultation of our own spirit, which is the ultimate goal of all goals."

Spyder is no doubt living true to it.
It is instructive that while he continues to climb the ladder of his trade, he has refused to forget where and how he started his journey. This is reflected in the combination of his budgetary discipline, speed, finesse and most auspiciously his humane disposition. Note his voluntary determination to depart from the conventional type without compromising his budget. I strongly believe that no one will ever regret associating with Spyder.

Spyder, May God guide you as you continue to traverse the labyrinth of the building projects in your world.

kostadinis:

It was Deepak Chopra who once said, ""Everyone has a purpose in life... a unique gift or special talent to give to others. And when we blend this unique talent with service to others, we experience the ecstasy and exultation of our own spirit, which is the ultimate goal of all goals."

Spyder is no doubt living true to it.
It is instructive that while he continues to climb the ladder of his trade, he has refused to forget where and how he started his journey. This is reflected in the combination of his budgetary discipline, speed, finesse and most auspiciously his humane disposition. Note his voluntary determination to depart from the conventional type without compromising his budget. I strongly believe that no one will ever regret associating with Spyder.

Spyder, May God guide you as you continue to traverse the labyrinth of the building projects in your world.

gabbytabby: Oga spyder,


Make sure to combine rest breaks oh as body no be wood oh.

I come 9ja work solidly for 6 weeks and by the end of it I was a zombie and bone tired.

kostadinis:
Can't wait to see those pictures. Was just wondering about the closeness of the soak-away to the foundation.

Do you have the plans to have the soak-away serve the future building on the next plot?

spyder880:

The closeness is not an issue as the soak away pit will be treated with complete 6 pillars plus a deck on top of it. If the building on the next plot is not as big as this one, then we can plan to connect the toilets there. I am planning this one to be very deep and long. We were still digging it as at today.

bugmenot:

Oga Spyder and other professionals in the house - how far from a septic tank/soak away can a well or borehole be situated?

mufutau55:

My brother, I don't know the technicality here... but I will as far as you can make it..
Remember, Na water you wan drink oh! not be that thing oh! We don't know what is transpiring under the earth down there oh!
My soakway for Duplex/Mens Quarter dey for front, and the Borehole dey for back, back.. on a 60ftx120ft land.. I think about
100ft away from each other.. Soakaway always scare me. (I don't know why.)

Hajji M.

mufutau55:

My brother, I don't know the technicality here... but I will as far as you can make it..
Remember, Na water you wan drink oh! not be that thing oh! We don't know what is transpiring under the earth down there oh!
My soakway for Duplex/Mens Quarter dey for front, and the Borehole dey for back, back.. on a 60ftx120ft land.. I think about
100ft away from each other.. Soakaway always scare me. (I don't know why.)

Hajji M.